- Location
- Lincolnshire
- US markets generally moved firmer – CBOT wheat saw gains yesterday as funds bought back shorts, corn followed to a lesser extent, while soy saw a volatile day ending higher. Little physical US news came into the market.
- The Euro Commission reduced its forecast for EU maize stocks ‘16/17 to 9.95m mt, previously 15.9m mt last month, as usage for ethanol hits an estimated 5 season high in the bloc.
- The Russian Ag. Ministry stated that they see little damage from adverse weather to current Russian winter grains, and are expecting strong yields for ’17 harvest.
- UK May17 LIFFE futures saw little change on the close, however traded £1 lower during trading, touching the 2-week low @ £147. Physical wheat markets pulled back in line with futures, with sellers unwilling to follow suit.
- BoE Interest Rate Decision & Quantitative Easing will be announced @ 1200GMT today, with Russian YoY GDP growth rate preliminary figures released @ 1300GMT.
London May ’17 Settle £148.00/t – up £0.25/t from previous close
Paris May ’17 Settle €170.25 – up E2.75/t from previous close
Currency Today:
GBP EUR 1.1748
GBP US$ 1.2689
EUR GBP 0.8507
EUR USD 1.0795